S&P 500 futures reach an all-time high on stimulus bets

S&P 500 futures reach an all-time high on stimulus bets

The S&P 500 reached an all-time high on Monday as investors ignored rising United States-China tensions to focus on President Donald Trump’s orders that could lead the economy’s recovery from the coronavirus pandemic.

S&P 500’s benchmark index would open at 12 points lower than its February 19 record peak of 3,393.52.

Amazon.com (AMZN.O), Netflix Inc (NFLX.O), and Apple Inc. (AAPL.O) supported the Nasdaq (NDAQ) stock market to reclaim its all-time high in June while Dow Jones’ (DJI) blue-chip remained at 6%.

The United States recorded 5 Million new COVID-19 cases on Monday.

“As the summer COVID-19 spike wanes, investors are more inclined to view the economic recovery as real. That could mean the recent move toward cyclical stocks is real and sustainable for the first time since the pandemic began,” Tower Bridge Advisors’ Chief Investment Officer James Meyer stated.

The S&P 500 closed by less than 1% below its record high on the afternoon trading.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?